Before you put your home up for sale, you must set the price. And before you can do that, you must know what the house is worth. That doesn't mean what you paid for it, or how you upgraded it. Determining worth is simply finding out what someone would pay for it.
The steps in determining worth are:
- Understanding market conditions
- Getting the details about recent sales in your neighbourhood
We have access to all of this information. Plus, We can objectively see the big picture and tell you what makes your home unique.
Once you've determined you home's worth, you and your agent will determine the asking price. Most often, the price of a home is set slightly higher than its worth, to give a little "bargaining space." Of course, if it is set too high, it may deter prospective buyers.
If you're in a rush to sell your home, setting the asking price a little lower than what your home is worth will attract a lot of attention. But beware, if the price sounds too good to be true, buyers may be skeptical. They may even offer less than the asking price anticipating problems with the home down the road.
You will have a legal relationship with your agent. When you complete the listing agreement, you are giving your agent the authority to put your house on the market for a specified period. If your house is sold during that time, you will pay the agreed to commission. What's more, if the house sells shortly after the specified period because of your agent's efforts, you are still obligated to pay the commission.